Hey Ultra, welcome to CHR! I'm a fellow Angelino...well, in Santa Monica, to be more specific. I have a '37 Ford which has turned into a long-term project and a '66 Ford F100 pickup, which is my daily driver. I have extended threads for both vehicles on here and have received tons help, advice, instruction, etc from the great folks here!

I suppose the type of project you get would depend on the skill set and tools you bring to the table. If you get in too far over your head, you'll probably get frustrated and might not finish. Many times you can find a project that has some of the hard stuff already done but the owner's circumstances changed and he'll sell for cheap.
Whatever you decide, you'll find some good support here.

Keep us posted!